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at the takingrg defense summit place at the ronald reagan building. we spoke with senator mark warner. tony hawk will talk about the olympic sports and maybe a little bit of white house exploits. let's get headlines from olivia sterns. close of u.s. trading, jcpenney, the struggling retailer posted its first quarterly profit in more than two years and shares rallied in after-hours trades. retailers return to discounting at last. was $35 million in the quarter compared to a loss year earlier.n a a little bit better numbers from jcpenney but coming off of a very low comparative figure. tesla out with details on its so-called giga factory plants. this could help to drive down the battery packs. they hope to make investments my the year 2020. they will invest $2 billion. aboutlso see volume at 500,000. an activist investor carl icon escalating his attack on john donahoe, the ebay ceo. carl icahn sent his letter to shareholders highlighting the leadership of mark andreessen and scott cook. ebay holds the claims quote ebay calledlse -- the claims "blatantly false." >> my next guest turned what kids di
demand. >> more likely the defense minister. >> i thought in the closing ceremonies there was even the flash of russian with that i love, see them making fun of themselves with the system ring not opening. that was a kind of showbiz moment of irony that was nice. told the story. there was a narrative in the opening ceremony. part of my job, sitting in between matt lauer and meredith vieira. some people thought i was debbie downer. here comes the march persians of 1937. there was an attempt, however macy'sque du soleil, day thanksgiving parade in terms to show the best face forward even historically. centuries afor legacy of rivers, blood, oppression, but part of his of theatism and building state is to reassert a different history, a glorious history. wonderful future. >> and to toboggan right past the unpleasantness because he feels we have heard that in the west has been dancing in the end zone about its victory in the cold war and the turmoil of russian history. >> it was the latest geostrategic tragedy of the century. >> what are we experiencing in the ukraine? >> this is anoth
. details ahead. ♪ >> u.s. defense secretary chuck hagel is digging in for what likely will be a battle with congress over proposed defense cuts. it would shrink the size of the army and eliminate some older weapons programs. the secretary laid out his plans yesterday. >> this is a time for reality. this recognizes the magnitude of the reality of our fiscal challenges, the dangerous world we live in, and the american military's unique and indispensable role in the security of this country and in today's volatile world. >> for more insight i want to bring in robert levinson. he is a retired colonel from the u.s. air force and has more than two decades of service and joining us, larry korb. they are both joining us from washington, d.c. if you could explain based on your experience and your reading of the proposed defense budget put forth yesterday, what is your initial reaction? >> basically, it is higher than we would have expected a year ago because you had the budget deal that gave some relief from sequestration. even if you control for inflation is higher in real terms than it was du
problems. that is coming up next. the defense department is cutting back on spending and we have reaction to the proposed budget. biden played defense during seth meyer's debut on "late night." >> i was planning on making an announcement tonight but i decided that tonight is your night. i hope you will invite me back. >> and 2016 plans? >> i'm going to run for president. ♪ >> this is "lunch money," on bloomberg television, streaming on your phone, your tablet, and bloomberg.com. i am adam johnson. google executive chairman eric schmidt donated $1 million of his own money to provide grants for organizations fighting local challenges. the idea came out of his best-selling book. it is entitled "the new digital age." charlie rose spoke with the authors. >> so many revolutions, the disclosures from snowden and the crises governments are facing -- we think that a lot of this is anticipated in the book. you judge but the important thing is the technology revolution is real and the power of citizens has importance. >> i want to talk about both of those things but also, you suggest we have not s
defense minister will run in the upcoming presidential elections. joining me now is david kirkpatrick, the cairo bureau chief of the new york times. he wrote in investigative report on the benghazi attacks. i am pleased to have david kirkpatrick back at this table. welcome. >> it is good to be here. >> wherever it is now, you are watching it on old. there is change in the region. >> i am probably the luckiest journalist in america. i was in the right place at the right time. i was in tunisia on the eve of their revolution. then i was in the via four months. it has been breathtaking. >> where's egypt today? >> it is very hard to know. mentioned, the field marshal is likely to become the next president. he hosted the first democratically elected president. he was embraced as a hero by a lot of the public. they are growing impatient with si government. he was promising stability. right now, i think that promise looks very remote. of the factors that contributed to the original uprising are economic stagnation, a lack of opportunity, an overwhelming youthful population. something like 70%
with russia. discard what has failed, with this feckless policy. i would renew the missile defense program in the czech wouldic and in poland i have some nato exercises with the baltic states. bill thatexpand a targets individuals who are responsible for this. there are other things we can do. the initial signals out of encouraging as far as sanctions are concerned. >> i do know that. do think sanctions that were effective in iran would have the same kind of effect on vladimir putin? try thenk i would target individuals and the bank accounts and the ability to travel. i would try that first. then i would look at others. g-8.im out of the s.number of other cosmetic whate have to understand this guy is all about. kgb --n old i said, watching russia and watch ukraine. unfortunately, i was correct. >> there enough. -- fair enough. do you have enough leverage to make him feel the repercussions of what you have done so severely that he will change his policy? >> i do not think in the short term that there is anything right now that is draconian enough to make him change. of our policyn towards r
in the corners in the defensive line in the linebackers. i anticipate what they're going to do. i have prepared so well. >> what the defense of back is going to do? >> iwatch his feet and his hands. >> what does that tell you? what he's proceeding might happen? >> i'm trying to be ahead of the game. as i go to the line, i have the checklist in my head of the what is my progression. go-to guy air the force comes to worse. what is the second look? >> that is my alert look. i go from one to two to three, sometimes four. >> you primarily have three receivers. >> it depends on the game. every play is different. i go through my checklist. if it isn't there, that is when the scrambling and trying to make lace happens. i just try to be smart. my dad tommy and other coaches tommy, just salvage the play. if it is not there, other players are going to make plays for you later on in the game, just throw it away or get a positive gain. that is what i try to do. >> should we measure by career or, the super bowls? >> i think it has to be all-encompassing. either way they prepare, affect people, affect organiz
what he thinks of the budget. these cuts in defense spending are based and has been made known by the administration there will be no more land wars. weyou know how many times have said that in the 20th century after world war i, world , andi, korean war, vietnam we always had to rebuild the military, because it is not always a conflict of our choosing. >> do you see this as a central problem with the president's budget? issue with america's role in the world. he does not believe in american exceptionalism or leadership. that is why our influence is , especiallyhe world in the middle east where the united states influence and power is no longer a factor. much a consensus builder. we did not have it with the u.k. for syria. do you think things are changing at all or still in the position where it will be an uphill battle trying to convince other nations to join us as we deal with this problem? already we're seeing disappointing but not surprising signs from germany and the british that basically they do not want to do anything serious. one reason is because of the energy supplie
border, which of course is shared with ukraine and the defense minister just a few minutes ago said there are russian fighter jets involved in that. is that a show of muscle or a preplanned exercise? all of this has the united states, nato very concerned. talking about the need for yause to stay out of ukraine d not by -- do not get militarily involved in any way. the situation in crimia, mainly a russian-speaking group of people. when viktor yanukovych was in power, they were talking about the western regions. now that the opposition is in power, the concern is they could get sort of lose out if you will in this carefully -- ethnic mix within the ukraine. nteresting developments today. the regional parliament building in crimia. >> tell us what is going on in the building. we're waiting to see this new government formed. this new leader step forward. an interim government but an important one given the financial situation. >> i'll tell you exactly what's happening. i'm inside the parliament. right in front of me is the man that the opposition said they want to be prime minister. su
, would you expect russia to come to their defense? >> the russians are coming off a pretty successful olympics. i do not think they want to provoke the type of international incident. but it is very fluid. there would be pressure for russians to come to the defense over the russian speaking population. the black sea fleet is going to be a big issue. >> scarlet, you have some important breaking news. >> we just got results from sears. $3.30 per share. revenues are in line with estimates. sales are down 6.4%. other company news. set to report. the annual report could be released this saturday. lego topping its rivals in asia. rose by theo single digits in the u.s. and europe and double digits elsewhere. don't take jamie dimon lightly. a j.p. morgan spokesman says he was saying that market volume is unpredictable at times like the weather. that is today's company news. we are focused on what happened overnight in crimea. >> we certainly are. >> that leads us to our twitter question. as vladimir putin part of the solution, part of the problem, how does he fit into the puzzle? tweet us. th
to me. and camede in america, after a hearing before the appropriations subcommittee on defense where the elon musk sat next to and testified a long side the chief competitor. the were there to discuss short forogram, default, expendable vehicle launch program. it is the federal government's answer to reducing the cost of military satellite space launches by hiring out contractors. spacex is currently not in the business because it does not have the certification to do so. betweeny, joint venture defense giants is the only thatting rocket maker with certification. which means it has held a monopoly for years. a monopoly he said he is convinced the competition would not help that monopoly or bring the government savings because he says redundancies between having to rocket makers might wash out any savings elon musk label and now -- amount to $1 million should the federal government go with spacex. luckily, the pentagon clears -- it tends to put an end to the monopoly. the sentiment also seems to be shared by lawmakers today. >> thank you. moment,continue in a the mission, should you c
. in this particular case, this technology has been demonstrated back in 2010. the department of defense work bircher --m called walter that was to fly for five --rs at high altar to allow themnd would to have internet in the parts of the world that do not. >> a drone that can provide internet access. we should think of it like a satellite? orbiting satellite that has the ability to maneuver within the band they want to to sell for the conductivity of communication. if you look at africa, those that skipped a generation of cell phones. they never put power lines or hard cable lines in the ground. now they have cell phone coverage. this is the exact same thing they will do with the internet, skip a generation of the internet and now go through low-flying orbital satellites that are called unmanned aircraft systems or drones. would this compare to what google has been focused on? both of the companies are more interested in more people using internet around the globe. >> what google is doing is they were looking at balloons that would fly at the higher altitudes that would allow them to again use it as
about the bus, but now i am on to cars. the defense summit at washington, d.c., we have the latest from the ukraine as well as pending changes to the u.s. military budget. william cohen will be joining me to give me more details, he served as secretary of defense under president bill clinton. outside the banks, they are talking about skateboarding. we have tony hawk, the legend from state wording, turning the sport into a mega-million-dollar business. all of that and more coming up at 5 p.m. eastern. more "street smart," next. ♪ >> we were talking about an overhaul of the tax code and whether or not it has any legs. that is tomorrow and we will talk some more about it. >> that is good. it has been a long time since we have had comprehensive tax reform bills. >> all the way back to the 80's, right? >> back when the giver was in office. >> 86. >> maybe they can bring ronald reagan back to life. >> we will see. on. >>tony hawk comes that is awesome. >> that's right. stick around, everyone. ♪ the hour, meaning that bloomberg tv is on the markets. let's get you caught up on how the marke
. frugalityusterity and of the national defense. how do we project a state department policy if we are recovering from two wars and want to take the armed services back? >> with great difficulty. dimension is absence. this will not be a crisis that teachers u.s. military use of force. carriers are not going to the black sea. we are engaged at all, it is about what we say and do with our allies. we have no powerful course of instruments that can merge them on this front. by cap we learned anything about the way russia has made the moves? i've remember when georgia invaded the south. there was an interesting cyber attack that precluded that. i was wondering if you saw anything that happens in crimea that was similar? >> i think there is a lesson to be learned. i think the big lesson is to be learned from the administration. he got caught trying to negotiate a secret deal with putin about the missile defense system. russia may be violating the treaty without action by the administration. this administration has been pursuing an narrative that is just not accurate. it has put allies at a very disadvantage
numbers to run through quickly. year, 3.5%.as last defense struck -- defense spending will increase 12.2%. investment on the physical front will increase 17.7%. late last year, the communist party said they will continue the sixth consecutive year having a proactive fiscal policy. finally, this is a blue sky day in beijing. check it out. take a look. not a single small cloud in the sky. the premier said this morning that the country is going to wage a decisive war against pollution. as someone who lives here, i welcome that war. >> let's continue the conversation about what is happening in china, the targets that he was just talking about. jonathan ferro joins us for more on this story. the headwinds to maintaining these kind of growth rates are becoming bigger and bigger. >> they are. yes, it is the same growth target, but you were coming off an increasingly eger based and it becomes difficult to hit this target. over the last year or so, officials deemphasized the headline number. a lot of were asking the question this morning. how do you hit that target continually and restructure t
defensive and it could be dilutive to their talk at what they are buying is rapid growth. to their stock. but they are buying is rapid growth. it was purely defensive from their own of view. you can't look at whatsapp and said that per user, blackberry can get $3.6 billion. do haveys to have -- valuation of blackberry messenger. greg, it is ah different user base. if you look at blackberry and blackberry messenger, it is mostly professionals that are using it, they are using it for collaboration, they're using it to leverage the productivity. to sort ofpeals more the average consumer. john, but do you expect, that eventually he is going to spin it off? >> you know, he indicated in a bloomberg interview yesterday that is certainly a possibility. his plans are to scale up that business but they have 85 million subscribers. he needs to get that larger. i think he is going to do that by developing some functionality user at, again, that core that is looking to blackberry messenger for collaboration and enhance productivity. >> john, thanks so much for joining us. restructuring specialist gre
reactions as well as the finnish defense minister. >> that will do it for "countdown." ' we'll see you tomorrow, everyone. have a great day. . >> welcome to "on the move." i am manus cranny. bloomberg's european headquarters in london. moments for the start of european trading. our team has everything covered. here with me now is jon ferro. david tweed is also standing by. john, let's kick it off with you. the ukraine situation. the russian markets are beginning to react. >> some of the biggest drop since 2009. every single stock on that index is heading lower. the russian central bank, a little surprise for us. they will cut rates. they said that increase is intended to prevent inflation. i will tell you what it does not present. that is political risk. it is a big deal. >> some of the companies. rom produce a lot of gas for the european region. that is under pressure. let's turn our attention into david tweed. he is in berlin. of course, the european ministers are meeting. is, how faruestion will they be prepared to go? last night that the u.s. treasury secretary have spoken about th
as a government, you need to put it to a good purpose either enhancing productivity or providing defense or essential services. the u.s. has the advantage of being a reserve currency country. we can issue treasuries at low interest rates. that is essentially what supports our fiscal -- >> we could talk all morning about fiscal multipliers. unfortunately, mr. putin is speaking in russia. i believe he is in his residence. he is looking casual this morning. >> you can't beat some of these headlines -- >> he has his shirt on. >> that is an exclusive. clarida takes a shot at putin. >> a tie and jacket for mr. putin. bc is he met with the d'amico meth and he -- he says he with viktor yanukovich and he is alive. he has no sympathy for him. take a look at the features. your cohorts in crime suggest, do we just ignore all of this ukraine chat? >> the reality is, there is no serious prospect of the u.s. or nato escalating this. as tragic as it is for the ukrainian people, it looks as though it is now not going to become a larger geopolitical impact. that is why you see the markets rebounding. >> i
of the defense business. more importantly, the 350 numbers looked lower than anticipated. this is the new twin aisle that is going to -- the dreamliner, that looks better than anticipated. >> let's start with the a350 number. 434 comes in at around million euros. the charges relating to the development of that lane, this one is set to go head-to-head with the dreamliner. it is meant to go into service this year. the dreamliner is already in service. the other number is on restructuring. after making the commercial blaine -- plain business the focus, they are cutting jobs in the defense unit. putting those together is costing them money, weighing on profit. there was a 292 million euro charge. there was a ride range of forecast for these numbers. shrug it off to some extent, down about 0.6% right now. three .5% inh as early trading. >> thank you very much indeed. john ferro with the latest on airbus. the group finance chief is on surveillance later on. tom keene and the team will be interviewing him. let's get a related take on this. the editor in chief of monocle, something of a plane buff i w
.7% to decline 3/10 of one percent. when he back out defense transportation, 1.7% for the month of january defying expectations of a decline. we should mention the previous month's numbers for december were going to show bigger than reported declines. jobless claims coming out at a: 30 a.m. here's a number worse than expected. 348,000 jobless claims fire -- filed for last week. the average estimate was for 335,000. terms oflike a miss in economic data. durable goods are better than anticipated for the month of january and jobless claims worse. the taking a look at market reaction. we are seeing markets on the move. the dow jones also paring its loss by about 10 points, now down just 1/10. looking deeper into the data, give me your take on the goods. class it is good. you want to look past the headlines and see what businesses are defend debt spending. you take out defense and aircrafts nec a pretty solid gain for a month. the three month rolling average, we are up 6.6%. couple ofter a months. when you look at capital goods, it looks like this is is starting to spend again and ended decembe
. north korea, when that happens, we usually get an uptick along the south korean defense plays. naver corp, two percent down after gains last week. i will be back later on. john, back to you. j.crewican fashion has -- has friends in very hype very high places. and may have a new owner. >> that is the country trading in the japanese trading session. they may acquire j.crew for a deal valued at the $5 billion. really looking to make inroads in the u.s. unwilling to grow and expand overseas. they want to be the world's largest clothing retailer. so they are betting on scoop-neck tees and cardigans. the bigs fan is michelle obama the united states. she loves them. i love -- i wear some j.crew j.crew -- i wear some clothing. it is hard to buy it here. leonard green has been the guy behind gap and trying to promote j.crew's band overseas. similar goals. j.crew is a privately held company. according to people familiar with the matter, they have explored the idea of going the ipo route. but that his not -- that has not this is armed during company that finds itself in a mid-tier. they have ab
in support of the ukrainian people. this morning, secretary hagel announced the defense department is taking concrete steps to stepsre our nato allies like expanding our aviation contributions our . this is on top of other steps the united states is artie taking wake suspending bilateral discussions -- >> you have been listening to secretary of state reiterating the u.s. support of the ukraine. we are here on set with our guest and we were just talking earlier about the ukraine. we spoke earlier with our reporter on the ground. sensed there was a earlier that maybe things have reached a lull. that is not the case now. we have a secretary of state saying we're here to defend the ukraine. what does that mean you a -- meaning? -- mean? a case not believe it is or might economic sanchez. his a board to keep in mind russia has a lot of parts -- cards they hold as well. cards or the natural gas the west is dependent on. you he is a jacksonian guy. a tough guy. he will stop at less than we will. and he is willing to put a lot more on the line qwest as he does not do the same laws >> he's not necess
business and making it the focus, elsewhere they are cutting about 6000 jobs in defense and space units. putting the companies together was a 292 million euros charge for that. -- it was a wide range of forecasted numbers. >> we will catch you again at the end of the show. don't miss our interview with the airbus group and cfo harald wilhelm. still with us is stuart richardson. he is the cio -- thanks for staying with us. talk to me about 2014. you cautioned that china could be the great unknown for us. quantitative eating -- easing is changing. where do i want to be an ambassador? equities, credit, government bonds, trade foreign exchange, how do i look at 2014? be you have told look at this year as very different from last year. the u.s. has been another upside surprise. in terms of equities, let's go where the money is printing. we know japan will carry on printing, they may up the scale of printing later this year, maybe not in the short-term performance but japan for the rest of the year we think is good. we are looking for u.s. and europe to fall into a trade arrangement at the mo
defense today? >> he was more than willing to acknowledge that a small number of credit suisse bankers went above and beyond to help u.s. citizens of the taxes. senior management was deeply regretful for those actions. they said that they were on a pathway to reforming themselves. they work to try to change that. that was not enough for the senate chairman. take a listen. >> you do not want to be in the purely business that dirty business of helping u.s. clients she on her taxes. it is important if you are really going to the a reform bank that you have got to acknowledge what is clear in our report, the wrongdoing went beyond these mulgrew of rogue bankers. iswhat you see right there the senator nailing the biggest difference. claims that this was just a small number of bankers who were involved. in a report released by the committee, it is a very large number of bankers, as many as 1800, may have been involved. that was not results yet. hear frommittee will top justice department officials in 30 minutes. where does credit suisse stand? >> the investigation is ongoing. the justice dep
in the back of people's minds to my that you could get some kind of russian reaction. >> u.s. defense secretary chuck hagel is concerned as well. he spoke yesterday to a group of ministers in belgium. >> we expect other nations to expect ukraine's sovereignty and avoid provocative actions. that is why i am closely watching russia's military exercises along the ukrainian border, which they announced as you know, yesterday. i expect russia to be transparent about these activities and i urge them not to take any steps that could be misinterpreted or lead to miscalculation during a belly -- a very delicate time. >> would this fall into the category of steps that could be misinterpreted? this is a russian warship docked in habana, cuba yesterday -- havana, cuba yesterday. it went into service in the black sea back in 1988 before it was transferred seven years later to the northern fleet. this is according to russian media sources. neither cuban authorities, nor state media have mentioned the ships visit, unlike on previous tours by russian ships. does it, cold war? secretary john kerry sai
. the country's newly appointed secretary of national security and defense counsel. we asked him about the growing tensions with russia. yes, i am. i'm worried about it, for sure. also, the capture of the government and crimea by units which in my opinion were sent from russia from moscow. we see a very aggressive method of carrying out politics towards ukraine. we could serve their attempts to divide ukraine or at least take crimea. >> with all the tension and crimea, would you call for native support across -- against russia for wire? >> yes, for sure. guarantee of safety in the black sea region. of course we are sure about nato and it has already been announced that they have their own vision and it will not allow the russian federation to create conflict. my colleague joins us now live from kiev. describe the security situation in the capital today. are things improving from your perspective? it has been pretty calm today in the city. tias around.i there's not much of a problem despite the huge numbers. you can hear some protests going on behind me on the streets. it has been prett
that with the newly appointed secretary of the national security and defense counsel. he asked about the growing tensions with russia. >> yes, i am worried about it. also, the capture of the government in crimea by units which were sent by russia from moscow. from russia, we see a very aggressive method of carrying out politics towards ukraine. we could observe their attempts to divide ukraine or take crimea. >> with the tension in the crimea region of ukraine, would you call for nato support against russia if required? >> yes, for sure. we think we are owed from the united states and britain. nato is a guarantee of safety in the black sea region. of course, we are sure about nato. it has already been announced that they have your -- their own vision and will not allow the russian federation to create conflict. >> from kiev to washington, what got president obama and vice president biden running around the white house? we will tell you. the chairman of microsoft wants you to join him on the cloud. his exclusive interview "lunch money." hiser on thank you -- inclusive interview later on "lunch mo
. >> is edwards noted a hero or traitor? it had nothing to do with privacy. andad to do with defense strategic threats. the army and navy and marines had nothing to do with anybody's privacy. it had to do with information that was damaging to our military. in ady who looks at it logical way looks at the information that he stole, it is hard to walk away and think that doing it to our enemy was anything less than treasonous. >> he may have gotten help from russia to carry this out. the technical capability of what he did was beyond his own. why do you think that? >> i look at this as a former fbi agent. there is a whole history starting in 2010. there is a large degree of suspicious behavior leading up to his decision to steal information. 95% of it had nothing to do with privacy issues or what the nsa was or was not doing to the citizens. information upth or texts of the united states and allows the army to protect soldiers overseas. it allowed the navy to protect itself in the south china sea. he may not have understood that information existed. we want to know how the scrape tool was develop
-range missiles. it was confirmed by the defense ministry as well. these things get ratcheted up. daysly we get one or two defenset of these related stocks listed in south korea. they were up. now we are seeing modest losses. means thatred, and is weakening. we are down about a quarter of one percent for south korea. really in line with what we are seeing across the region. we are talking about japan reopening. another big he'll could be brewing. fast retailer said to be in talks to buy j.crew. they say the valuation could top $5 billion. earnings story. to be disappointed. bringing down the forecast because of a disappointing performance. mazda does a lot of business in europe. the japanese yen strengthening for 30 straight days. that doesn't exactly bode well for profits. jpmorgan with a note of raising the rate on several players. the electric company raised to high perform. term more than anything else. back to you. >> thanks, david. today we are looking at asia's gridlock streets. more than 20 million cars were sold in china alone last year, leading to clogged roads and increased aleutian.
the russian defense ministry says that is not true, there is no ultimatum. clear is that the ukraine is in control of the russian military. there has been a real steady buildup since the first eight on fridays arrived and surrounded the bases. and now they are very much a control. >> tells about the situation the capital there. they're preparing for meetings with international monetary fund. >> that is correct of they just sat down with the director. they're going to meet with the imf, what timing, eh? ,kraine intends to ask of and intends to receive a funding --llars of $3 billion in funding. perhaps in an announcement this week, they think it would take them two to get thes to actually first cache. interesting of with this backed up,tor -- because you have investors really is earned about holding ukrainian debt. the russian military presence in ukraine is helping them to focus western minds, and soda pressuring them to impact gave ukraine this money that maybe would have taken a little bit longer to give if it had not been this way. you.an, thank a look at how united states and oth
it has moved a long way. it looks like they are defensive on the assets, that is for sure. i think places like south africa are still very vulnerable and you may find that people who have to take money off the table in the ukraine and russia have to go to south africa, as well. these are the places. >> what is your take on india? >> yes. i think that india is a binary political story and it is increasingly likely that it comes true. a will see a little bit of run in the elections and some more modesty after the election. india. issues do not entirely related to monetary policy and i think that the issues are political leadership issues and what happens to the labor market and the fiscal side. we are concerned and we think the growth inflation makes is worse. structurally, it is a good question and i do not think the election answers these questions. >> this is something that investors should be wary of? >> there is a tactical opportunity and the market will get excited about the elections. there will be more questions i have often mission about the elections before too long. >> talk about
not have the approval to do so. years held the monopoly. it's a joint venture between defense giants, lockheed martin and boeing. ceo says that he does not think that breaking up that monopoly in the name of competition will really have that big of a payoff. take a listen. >> they are important questions about how competitions will be structured. to ensure they are fair and open, and whether competition will actually save the savings promised. ultimately the question is whether savings from competition will be sufficient to offset the cost of duplicating existing capabilities. >> that is a sentiment not shared by the pentagon. they will later this year be opening up 14 more missions, four new entrances like spacex to take a chance of entering that market. >> any talk about russia today? i know that he told our rachel , embarrassing the u.s. has to thumb rides to russia. did that, but all? >> it did. -- come up at all? >> it did. musk pointed out that united launch alliance, the engine is actually manufactured in russia. iszing on everything that happening right now, the proposed econ
news, scarlett? >> a russian defense minister issuing orders to conduct a check of combat readiness of its military districts. they basically want to test the combat readiness of the armed forces across western russia on wednesday. ,his began at 2 p.m. local time running through march 3, which is next monday. so, russia is readying combat troops with urgent military drills that come up, of course, with the tension in ukraine increasing. you can see the dollar ruble increasing. raking through as the ukrainian the wordingt to use correctly, ukrainian currency collapsing earlier this morning. markets are reacting to this news. >> by the way, first the olympics, now we get the announcement on troop movements. right? >> first things first. if the cameras off, get the journalists out of the country. >> this is why they were officially following the upheaval in ukraine, now they are readying combat troops. >> coming up for you, to dollar trillion is what airbus predicts the global demand for airplanes will be in the next two decades. we will discuss, next. ♪ >> good morning, everyone. i
there be a trade-off. quick that is his defense. -- >> that is his defense. he takes on a host of people. he takes on the nfl odds tax-exempt status. taken on the nfl tax-exempt status. >> i guess it is good if everyone is upset. dave camp wants to change that private equity tax. >> that is right. he would change the rule for the carried interest that affects both the hedge fund committee -- community and the private equity community. they are just one of several groups that will go after that and complained about that. he says, you've got to look at the whole balance of what the financial industry will get out of a more healthy economy. he thinks 2 million jobs will be created. growth is perhaps 20% better, that is the figure you put out there. and he talks about the politics. it is a midterm election year, and there are some republicans that don't want to rock the ship. i asked him about that. has he put his own party on the spot? here is part of his response. >> we need to be engaged in the big issues of the day. growing the economy, creating jobs, and i have specific proposals to do that. that
for the murder of his girlfriend reeva steenkamp. the defense lawyers say he believed that she was a burglar. russia's a central bank raised its key rate to 7.5% from 5.5% as of 11:00 a.m. moscow time. the central bank says the rate increase is to prevent inflation risk and ensure financial stability, this according to its website. u.s. secretary of state john leaders a western responding to russia seizing control of the crimean peninsula. the ukraine said it has mobilized its army. >> it is really 19th-century behavior in the 21st-century first century and there is no way to start with, that if russia persists in this that the g-8 countries will assemble in sochi. that is a start. fromt's get the latest ukraine. where ryan chilcote is on the ground. british foreign secretary has been speaking this morning. bring us up to speed. >> i will give you the very latest. of the russian prime minister has just announced that he -- russia is establishing a company to build a bridge across the --this literally happened the last couple of minutes. pretty -- the straight connects -- effectively it will
and defense unit that have merged together and they have cut some 6000 jobs. 292one charge for that is million euros. some big numbers. >> that is something that is happening in the industry as a whole. the marketppointed will be, we'll find out at the open. david miles crossing the bloomberg terminal. he is a bank of england policymaker. he has spoken to the bbc and interesting comments about what martin weill said last week that we may have a rate cycle fall next year. that nexts saying year might be the right time. no certainty. there is still a bit of slack in the economy. rate may bemal lower than normal. >> at 9:30 we get the number. 0.7% is what is expected by economists. he will keep an eye out for that. " is next.ve they will continue our coverage of airbus. it grew 21%. that will do it for "countdown." we will see you again tomorrow. ♪ . . move."ome to "on the momus to go before the start of the trading day. here with me now is caroline hyde. ferro, and hans nichols. john, what is driving the numbers? >> profit is up by 20%. big charges for the a350 and the structuring cost as well
revenues from its countries fashionistas. hans nichols reporting. joining us is jesse. any defense? playing by the rules, that is probably the most obvious one. man of the most obvious one is that the rules permit them to allocating around the world. what they're saying is that the subsidiary in holland is responsible for licensing me brandon -- licensing the brand name to zara. the people that work there have the expertise in designing the interiors of the stores and window displays. that is a very important part of the company's profitability. >> is there anything different to what we hear about large tech companies? in many ways it is similar. they are attributing lots of profit to a tiny subsidiary that has a small number of employees. they are saying there's a lot of value that is controlled by this subsidiary. billions ofbutes dollars to a subsidiary in bermuda that controls the rights to all of its intellectual property and software patterns -- patents outside the u.s. the expertise is designing window displays and the interior stores. that raises eyebrows because how valuable can th
is secretary of national security defense counsel in ukraine. i asked if he is worried about the russian military conducting exercises nearby. >> yes, i am. i am worried about it for sure. also the capture of the government in crimea by units in my opinion that were sent from russia, from moscow. from russia, we see a very aggressive method of tearing out policy toward ukraine and we -- attempts to the five -- divide ukraine or take the historical crimea. em, on the among will focus of crimea but the former president is in moscow. a press conference at 8:00 a.m. new york time. what will key have a for from their former president? the big concern here today seems to be about missing money. the new prime minister here says the regime of yanukovych, the man who found safe haven in as much as have put $70 billion offshore and that is morethey want to know about. >> especially given the fact the ukraine need to $35 billion in the u.s. has pledged a mere billion dollars. as i look behind you and kiev seems to be returning to calm, what is your expectation regarding the imf who will be in kiev
.rime michael mckee looking at these dwindling set of options. >> you with ink russian defense economy on exports quite economy. 27% of gdp its exports. and also a big eel for the eu. the biggest trading partners on both sides. the list that who russia exports and imports from, the eu. it is at the top, way ahead of anyone else. anything they do to russia, the russians can do to them. that is why you see relook ends to really commit to something like this. the united states plays almost no role, no trade or russian relations that matter. the other issue, that exports of gas. they now have a northern pipeline. they can go around if they cut that off. the europeans do not want to lose them. a longer-term issue because they have a mild winter they have very mild stocks. if this were to go on for a long time, it would be a problem for europe and russia. >> we solve the benchmark index go down. to what degree did those developments exact a price on russia? >> they are exacting a price. this hurts the banks. they could be in big trouble. the russian central bank raised interest rates seven p
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